Tag Archive: technologies

Do You Have a Resilient Supply Chain?

August 11th, 2019

supply chain strategyThere is extreme volatility in today’s end-to-end supply chain.  Are you keeping up with all the changes?  For example, think about the following:

  • Tariffs & trade impacts
  • Data & security breaches
  • The Amazon Effect
  • New technologies such as 3D printing
  • Natural disasters, port strikes and more

The Resilient Supply Chain
Instead of allowing each of these incidents to impact you, we must create a resilient supply chain.  Are you proactively thinking about these topics?

  1. Agility– Instead of seeing agile as an IT or project management concept, we should be thinking about how to incorporate agility into every step / every piece of our end-to-end supply chain.  If a customer changes his mind, are we flexible enough to handle it?
  2. Speed – Is your supply chain set up for speed?  Customers are unwilling to wait.  I’ve found that I’m unwilling to wait anymore.  If I wait for a trusted advisor, service provider, subcontractor or even a client, it delays LMA Consulting. For us to be on the leading edge with clients, we must be ahead of the curve; not waiting for something that will be obsolete before we get it!  That is one thing we appreciate about our webmaster; he is speedy and understands priorities which is how we are able to announce a major content upgrade (thanks Scott).
  3. Predictive – In today’s complex world, we must also be predictive so that we are prepared from an 80/20 standpoint for the most likely unexpected events, trends and bumps in the road.  Thinking three steps ahead can go a long way in creating resilience.
  4. Collaborative – One of key components to creating a resilient supply chain with multiple partners is to collaborate.  There is no time to establish relationships and find ways to navigate volatility together if you haven’t already set a collaborative tone.
  5. Adaptive team – No doubt; the core to resilience is having an adaptive team where each members understands where he/she is headed and feels empowered to handle obstacles as they arise.

Have you thought about each interrelated partner, piece or parameter in your end-to-end supply chain?  How can you set it up to be resilient?



McKinsey Report Predicts 20% Growth in Manufacturing by 2025

November 20th, 2017

Supply Chain Briefing

McKinsey Report Predicts 20% Growth in Manufacturing by 2025
According to Industry Week, a McKinsey report predicted manufacturing GDP would grow to $3 trillion by 2025  – a 20% increase!  Large U.S. firms have outperformed their global counterparts, according to the new survey, “Making it in America: Revitalizing U.S. Manufacturing” by The McKinsey Global Institute.  What we knew all along!  

Of course, it has been tougher for the smaller firms supporting these larger firms which has negatively impacted the middle class.  However, there is hope.  Demand is rising at home and abroad with VAST opportunity to export.  Value chains are evolving to a U.S. advantage especially those in advanced industries.  Rapid customization and consumer preference can drive additional firms to manufacture in the U.S.  Are you ready?

 

Who, What, When and Where Will Impact Manufacturing?
Are you ready for the coming wave of manufacturing?  Do not wait until you miss your opportunity as customers expect QUICK deliveries, RAPID customization and a proactive, excellent customer experience.  Have you thought about which technologies to leverage to get ahead of the curve so that you can take advantage of the opportunities as they arise?  What can you automate?  

And although technology is paramount to success in this new world, the core tenets remain intact.  Do you know your customers?  Why will they purchase from you vs. your competition?  How can you stand out from the crowd?   Can you create an experience for them?   Although important to ponder, don’t bother unless you have also thought about your human capital.  Where should you shore up your talent to get ahead of the curve?  Plan for success; don’t wait for it to pass you by.

 



Is Digitization Hype?

March 8th, 2017

Well, let’s start with a definition of digitization. According to CIO.com, McKinsey defines it as technologies that virtualize and automate products, services and supply chains. We certainly hear about digitization in the news frequently; however, according to McKinsey, even though CIOs embrace it, digitization is a slow-moving process.

On the other hand, don’t see this as an opportunity to take a break. According to McKinsey, 49% of the leading companies are investing in digital more than their counterparts do, compared with only 5% of digital laggards. Perhaps it is an opportunity to leapfrog the competition?

technology

What Should We Consider and/or What Impacts Could Arise?

Digitization isn’t going to take over our day-to-day operations anytime soon; however, if we want to lead in our industry and provide exceptional service to our customers, we better get ahead of this curve, no matter how slow-moving at the moment. If Amazon has proved anything, it is that everything can change in a heartbeat. Thus, we should get our strategy going and think about what digitization would make sense in our industry. What would help us provide a superior customer experience? I find that is always a good place to start to spur thinking.

It also makes sense to research the best practices in digitization (regardless of industry). After all, if it is a slow-moving process, we cannot rely on our competition and colleagues to be on the leading edge to push us to innovate. Instead, we need to explore what’s working for completely different industries and think about how it could apply these ideas to our industry. With that said, be selective and smart. Do your due diligence but don’t get overly excited about digital technology that won’t provide a competitive advantage or significant value for your organization. Empower your people to open their minds and ideas will flow. You’ll find a gem out there somewhere.